you have 700 more mortgages added to your debt.
More than 700 Bay State homeowners on the brink of foreclosure could be rescued by a $50 million settlement with Goldman Sachs, Massachusetts Attorney General Martha Coakley said.
Under the terms of the agreement, Goldman will reduce the principal of 714 first mortgages they hold (or service) by up to 30 percent and reduce second-mortgage amounts by 50 percent or more. This will allow borrowers to replace troubled mortgages with more affordable loans that take into account today’s value of their properties.
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